Tagged Used Car Market

March Prices Down for Used 1- and 3-Year-Old Vehicles

In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.

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February Pricing for Risk Units Up 5% YOY

Rental risk units were up from a year ago due to mix shifts and mileage changes as well as a weakness in the used vehicle market last year, according to Manheim. The Manheim Used Vehicle Value Index stood at 124.6 for February.

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January Full-Size SUV Prices Decline

In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.

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Enterprise Car Sales Generates $575M in Auto Loans

The service from Enterprise Rent-A-Car generated $575 million in loan volume to more than 31,000 credit union members during 2016 — a 15% increase in loan volume compared to the previous year.

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Used Vehicle Volume Grew 6% in '16

The National Auto Auction Association (NAAA) estimates that its members sold 9.9 million vehicles in 2016, a 6% improvement over the year before, according to Manheim’s 2017 Used Car Market Report.

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Used Pickups, Vans Start 2017 Strong

On a year-over-year basis, 2017 started the same as all of 2016 — trucks and vans up and cars down, according to Manheim. New vehicles sales into rental declined by approximately 7% in January compared to January 2016.

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Rental Risk Unit Mileage Falls 13%

In December, the average mileage on rental risk units sold (38,600 miles) was similar to recent months, but it was 13% lower than a year ago, according to Manheim. The Manheim Index for December finished at 124.9, a decline of 0.6% year-over-year.

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ADESA: New Vehicle Incentives Pressure Used Pricing

A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.

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Hertz to Sell Used Cars via Shift Website

Hertz plans to sell its used vehicles through its partnership with Shift, an online used car website that offers customers test drives.

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Trucks Continue to Keep Wholesale Yearly Prices Up

Wholesale prices for trucks were up 7.3% on a year-over-year basis while cars were down 1.3%, according to ADESA.

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Rental Risk Units Sold at Auction High For August

This could be a sign that stop-sale/stop-use units are being repaired and creating less demand for loaner vehicles, says Manheim.

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Trucks, Low Mileage Drive Wholesale Price Strength

Average whole values fell again on a month-over-month basis in July, but they remain up on a year-over-year basis mainly due to the price strength of truck and continued growth of younger, lower-mileage, higher-priced off-lease supply, according to ADESA.

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Lower Mileage Leads to Increase in Rental Risk Prices

Auction prices for rental risk units sold in July jumped 21% from a year ago because of lower average mileage and a richer mix of units sold, according to Manheim. Wholesale used vehicle prices increased for the fourth consecutive month.

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Wholesale Prices Fall in June, Up Yearly Due to Trucks

Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis mainly due to the price strength of trucks, according to ADESA.

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Wholesale Prices Reach Four-Year High

Manheim Index surge is driven by strength in pickups and vans — and rental risk units with substantially lower mileage.

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Rental Risk Prices Decline Again in May

Auction prices for rental risk units declined again in May, but the year-over-year decline was less than in April and March, according to the Manheim Index. The average mileage fell to its lowest level since September 2014.

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Wholesale Vehicle Prices Up .8% Month-Over-Month

According to the latest Kontos Kommentary, average wholesale prices rose slightly. Falling car prices were offset by a rise in truck prices.

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Risk Unit Prices Dip 7.5% in Q1

Wholesale used vehicle prices inched up in April after starting the year with three consecutive monthly declines, according to the Manheim Index. The average auction price for rental risk units was down 7.5% from a year ago.

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Wholesale Vehicle Prices Up 6% Month-Over-Month

Wholesale used vehicle prices in March averaged $10,815 — up 6% compared to February and up 1.7% relative to March 2015. Car prices continue to show year-over-year declines while prices for pickups and SUVs/crossovers show gains.

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Wholesale Price Decline Continues in March

Wholesale used vehicle prices declined for the third consecutive month, a decrease of 1.6% from a year ago, according to the Manheim Used Vehicle Value Index. Rental risk units had the lowest average mileage since September 2014.

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